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Paysend, a leading player in the financial technology sector, has announced a significant milestone in its growth journey with the successful closure of a $65 million investment round. This latest funding injection, which includes strategic backing from global payments giant Mastercard, marks a pivotal moment for Paysend as it continues to expand its innovative cross-border payment solutions.
Paysend, a UK-based FinTech company, and Western Union Join Forces to Revolutionize Global Money Transfers and have forged a groundbreaking alliance to redefine the way money moves across borders. By integrating cutting-edge digital platform, consumers gain enhanced capabilities to send funds directly to Visa and Mastercard debit cards.
This collaboration marks the dawn of a new era, promising unparalleled convenience, reliability, and accessibility for individuals and businesses navigating cross-border transactions worldwide.
Paysend, a UK-based FinTech company, and Mastercard have expanded their collaboration to improve cross-border payments for small and medium enterprises (SMEs), which are increasingly seeking fast and secure methods to send money or pay vendors globally. Despite the robust growth of digital payments, challenges persist regarding transparency and predictability. According to Mastercard's 2022 Borderless Payments Report, 39% of SMEs find cumbersome cross-border payments hindering their supply chain, and a quarter have faced supplier refusals due to uncertainty over payment times.
Paysend, a UK-based FinTech company, and Visa have announced a strategic partnership to enable real-time money transfers to eligible Visa cards across 170 countries and territories.
This five-year collaboration builds upon their previous partnership and leverages Visa's Visa Direct network for instant money movement. Paysend aims to revolutionize international money transfers, especially in underserved regions, by utilizing card networks instead of traditional channels.
